“Building & Construction, HVAC, and Shipping, Packaging & Transportation to be the largest applications for the advanced phase change material (PCM) market”

Building & construction, HVAC, and shipping, packaging & transportation collectively accounted for more than 55% share in terms of value in 2013. Energy saving, environment friendliness, and a wide range of applications are the key growth drivers for the advanced PCM market. PCM usage in a particular application and its commercialization depends upon the availability of the right grade, quality, and price. The PCM market has huge potential which can be utilized with reduction in cost of PCM as well as macro and micro-encapsulation technique. Currently, applications, such as thermal energy storage, textiles, and electronics have limited commercialization but possess huge potential for the future growth of the advanced PCM market.

“Bio-based advanced phase change material to have the highest growth”

Inorganic PCM had the largest market share in terms of volume in 2013. Demand from HVAC, cold chain, thermal energy storage (TES) applications is projected to continue to drive the growth in this segment. Bio-based PCM’s are projected to have a higher growth rate between 2014 and 2019 on account of the environmental reforms and regulations in Europe and Americas.

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